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Contractors should brace for weaker conditions: AIA

After Strong 2023 Performance, the Construction Sector will Weaken Through 2025

Spending on nonresidential buildings will see a modest 4% increase in 2024, after increasing by more than 20% last year according to The American Institute of Architects’ latest Consensus Construction Forecast.

Leading economists forecast 4% growth in construction spending for nonresidential buildings in 2024

Spending on nonresidential buildings will see a modest 4% increase in 2024, after increasing by more than 20% last year according to The American Institute of Architects’ latest Consensus Construction Forecast. The pace will slow to just over 1% growth in 2025, a marked difference from the strong performance in 2023.

Construction sector will weaken across 2024 and 2025, says AIA

Spending on nonresidential buildings will see a minor 4% increase in 2024 despite a 20% increase in 2023, according to the AIA’s latest Consensus Construction Forecast. In 2025, meanwhile, the pace is expected to slow to just over 1% growth. Across key sectors, manufacturing construction will.

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